Furniture industry leader reports 5.77 pct profit rise

2019-03-06 11:12

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BEIJING, March 5 (Xinhua) -- Suofeiya Home Collection Co., one of China's biggest customized furniture company, said Tuesday that its net profits rose 5.77 percent year-on-year to 959.07 million yuan (143.14 million U.S. dollars) last year.

Revenues jumped to 7.31 billion yuan, up 18.67 percent from one year earlier. Earnings per share stood at 1.04 yuan, according to a statement the company filed to the Shanghai Stock Exchange.

The company witnessed fiercer competition last year with an increasing number of new market entrants, the statement said.

A cooling property market also weighed on the company's profitability.
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